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Chainlink (LINK), the leading oracle network that provides data to smart contracts, shows a marked contrast. The token is down more than 70% from last year’s peak. However, Grayscale Investments holdings rose to a new high.
Additional data highlights growing institutional confidence in the project’s long-term potential, despite continued pressure on short-term sales.
Grayscale will have more than 5 million LINKs in 2026
According to data from blockchain analytics platform Arkham Intelligence, LINK’s balance has exceeded Gray scale 5 million tokens in February 2026. The company currently owns about 5.258 million LINK, worth more than $43 million.
The data shows that the accumulation of LINK accelerated in December last year and has continued since then. During this period, Grascale bought 4 million LINK while the price of LINK fell from $15 to $7.2.
Grayscale’s accumulation reflects continued demand from clients for exposure to the LINK system, despite price corrections. Data on LINK exchange-traded funds (ETFs) reinforces this narrative. Since receiving regulatory approval, it is not registered These boxes A day of negative net flows.
Although the average daily net flow remains below $1 million, the absence of flow indicates that investors maintain confidence in LINK’s long-term price prospects.
This trend is in contrast to many other cryptocurrency funds, where capital flows tend to fluctuate with market sentiment.
The relative stability may come from investors’ confidence in Chainlink’s role as a vital infrastructure for decentralized finance (DeFi) and blockchain applications. Chainlink provides reliable data that allows lending platforms, derivatives markets and prediction markets to operate smoothly. This interest continues to attract institutional capital seeking long-term returns.
Since February 2026, Chainlink has also served As infrastructure for 5-minute prediction markets in PolymarketThe largest blockchain-based betting platform in the world.
Dune Analytics data shows that Polymarket’s monthly virtual account volume has reached a new all-time high With more than $7 billion. Close integration with the expanding prediction market segment could further strengthen LINK’s long-term value proposition.
LINK may enter a long side phase near the bottom
Despite these positive fundamentals, still Constant marketing pressure It affects the price of LINK.
Market sentiment remains firm In a state of extreme fear For several consecutive days. This intensified the decline and pushed LINK back to the accumulation range of the previous session.
Some analysts warn that LINK may enter Lateral accumulation phase Extended, as the token is not yet valued.
“You cannot underestimate the importance of time-based capitulation. It took $LINK 1.5 years to create a bear market fund in 2023.” Comment Investor Greene.
A prolonged consolidation scenario similar to the past may test the patience of incumbents. A recent report from BeInCrypto indicates that Investors continue to withdraw capital from altcoins. When the capital finally returns, only projects with real and tangible applications can achieve real growth.
